Zacks Research Downgrades DoubleVerify (NYSE:DV) to Hold

DoubleVerify (NYSE:DV) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on DV. Barclays reissued an “equal weight” rating and issued a $12.00 price target on shares of DoubleVerify in a research note on Monday, January 12th. JPMorgan Chase & Co. reduced their price target on DoubleVerify from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Morgan Stanley boosted their price objective on DoubleVerify from $15.00 to $15.50 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Scotiabank restated an “outperform” rating on shares of DoubleVerify in a report on Monday, November 10th. Finally, Canaccord Genuity Group lowered their price target on shares of DoubleVerify from $24.00 to $18.00 and set a “buy” rating for the company in a report on Monday, November 10th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.41.

DoubleVerify Trading Up 1.1%

NYSE DV opened at $11.10 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $10.95 and its two-hundred day simple moving average is $12.50. DoubleVerify has a twelve month low of $7.64 and a twelve month high of $23.11. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 0.72 and a beta of 0.98.

DoubleVerify (NYSE:DV) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.09 by $0.13. The firm had revenue of $188.62 million for the quarter, compared to analyst estimates of $190.43 million. DoubleVerify had a return on equity of 6.59% and a net margin of 6.10%.The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. Research analysts forecast that DoubleVerify will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleVerify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DV. Baird Financial Group Inc. purchased a new position in DoubleVerify during the first quarter valued at $154,000. Woodline Partners LP lifted its holdings in shares of DoubleVerify by 2.5% during the first quarter. Woodline Partners LP now owns 30,825 shares of the company’s stock valued at $412,000 after purchasing an additional 762 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DoubleVerify by 10.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,814 shares of the company’s stock valued at $6,174,000 after buying an additional 43,343 shares in the last quarter. Farther Finance Advisors LLC raised its stake in DoubleVerify by 3,035.6% during the second quarter. Farther Finance Advisors LLC now owns 3,167 shares of the company’s stock valued at $47,000 after buying an additional 3,066 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in DoubleVerify by 176.7% in the second quarter. GAMMA Investing LLC now owns 3,414 shares of the company’s stock worth $51,000 after acquiring an additional 2,180 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

About DoubleVerify

DoubleVerify, Inc is a leading digital media measurement and analytics company that helps advertisers, publishers and platforms ensure their digital advertising campaigns are viewable, fraud-free and brand-safe. The company’s platform integrates data science, machine learning and proprietary analytics to authenticate the quality of media across display, video, mobile, CTV and social channels. By delivering real-time insights into ad viewability, fraud detection and contextual relevance, DoubleVerify empowers marketers to optimize campaign performance and drive better return on ad spend.

At the core of DoubleVerify’s offering are solutions for viewability measurement, invalid traffic (IVT) detection, brand safety and suitability, contextual targeting and campaign performance analytics.